Energy Minister Luz Elena González announced the winning bids last week, with each solar and wind project to be paired with a battery energy storage system (BESS). The two largest projects—the 694.2MW La Alegría solar project and the 350.7MW La Esperanza project—will both be developed by Sunstone Power in the state of Campeche, in southeastern Mexico. These two projects also have the largest installed battery storage capacity. Sunstone Power expects both projects to begin commercial operation in June 2028. Among the 20 projects that have been awarded contracts, the earliest to enter commercial operation is expected to be Energía Solar Herrera’s sole solar PV project in this tender. With an installed capacity of 231 MW, it is slated to begin operations in early December 2027, while the remaining projects are anticipated to come online by December 2028. The company awarded the most contracts was Mexico’s Dhamma Energy, which will develop 400MW of photovoltaic capacity across three projects in Hidalgo State. The company stated that its project will be ready for construction commencement in the first quarter of 2026, which is the result of “more than seven years” of effort. Pierre-Yves Gary, Managing Director for Latin America at Dhamma Energy, stated: “This award is the culmination of more than seven years of technical work and ongoing dialogue with the authorities, and it underscores the Mexican government’s confidence—through the Ministry of Energy (SENER)—in projects that can deliver genuine value to the national power system. The state of Hidalgo is a critical region for meeting growing demand and enhancing system reliability.” These projects are part of the 2025 tender for private power-generation projects. The Mexican Ministry of Energy (SENER) has awarded the tender to 14 companies, both domestic and international. Ultimately, this tender will result in the development of 20 projects across 11 states. Mexico’s Energy Minister, Luz Elena González, estimates that the winning bidders will attract US$4.75 billion in private investment to support Mexico’s energy transition. Mexico’s Ministry of Energy (SENER) expects to launch the second round of project tenders in January 2026, as the country aims to significantly increase the share of renewable energy generation in its energy mix. In 2024, renewable energy accounted for 22% of Mexico’s electricity generation, below the Latin American average of 62%. The government aims to increase this share to 45% over the next five years, partly to reduce reliance on U.S. natural gas imports. In 2024, U.S. natural gas supplied more than half of Mexico’s electricity.
Earlier, a report released by SolarPower Europe in the summer stated that the solar industry in Latin America is at a “critical juncture,” with immense potential for growth in the region.